Skip to content

Egypt’s Hunt for Wheat Gains Urgency as Stockpiles Shrink

  • State buyer will hold a tender Wednesday for European supply
  • Wheat futures in Paris and Chicago rallied for a third day
Updated on

Egypt, the world’s biggest wheat buyer, is accelerating efforts to ensure the supplies needed to feed its citizens as the war in Ukraine upends the global grains trade.

The Egyptian government buys wheat in regular international tenders, which have for years been dominated by low-cost supplies from Russia and Ukraine. The country abandoned two tenders immediately after the invasion, leaving wheat stockpiles increasingly tight -- they recently stood at just two and a half months worth. The local harvest will soon help replenish supplies, but Egypt needs to make sure it’s building reserves for the coming year.